Comparing the True Cost of Living Indices of Demographically Different Households

The comparison of true cost of living indices between demographically different households (relative equivalence scale) is argued to be sensitive to the way demographic characteristics enter demand analysis. In particular, parameters reflecting the cost of demographic characteristics at base prices, though themselves do not have welfare (equivalence scale) interpretation, can alter the benchmark from which demographically varying inflation effects are measured. The empirical analysis, based on a rank‐3 demand system applied to UK individual household data, shows that the inflation adjustment of child benefits can vary with the way demographic costs at base period prices are specified.     

改进后的PERT方法在进度风险分析中的应用

风险分析是进度控制中的重要内容。针对经典PERT网络的假设和计算过程,分析出它存在的三方面缺陷。并提出解决问题的三种具体措施,从概率论与数理统计的角度,对关键线路和关键工作进行了重新定义和确定的方法。     

建立铁路公益性运输补偿机制的探讨

铁路公益性运输超越了企业的职能范围,企业应当得到国家补偿。为此,建议按照依法、据实补偿原则,以税收抵扣方式进行补偿,以利于铁路运输企业的积累和发展。     

自动化驼峰作业预想控制法

襄樊北站驼峰自动化控制系统于2001年11月28日正式投入运用,根据该系统在运用中出现的问题及产生原因,通过采用自动化驼峰作业预想控制法,将人的作业经验与自动化精确控制相结合,取得了扬长避短充分发挥自动控制作用、提高编组站驼峰作业能力的效果。     

政府预算过程中的多方利益博弈

本文通过探讨目标各异的多种角色参与的预算过程 ,指出预算过程是一种博弈过程 ,在此过程中代表各方利益的参与者为取得支出优先权展开竞争。本文主要对各支出部门之间、政府预算部门与支出部门之间、政府与公众之间以及中央与地方之间在预算决策中的竞争博弈行为进行分析 ,提出完善预算制度的政策建议。     

THE SQUARED ORNSTEIN-UHLENBECK MARKET

We study a complete market containing J assets, each asset contributing to the production of a single commodity at a rate that is a solution to the squared Ornstein-Uhlenbeck (Cox-Ingersoll-Ross) SDE. The assets are owned by K agents with CRRA utility functions, who follow feasible consumption/investment regimes so as to maximize their expected time-additive utility from consumption. We compute the equilibrium for this economy and determine the state-price density process from market clearing. Reducing to a single (representative) agent, and exploiting the relation between the squared-OU and squared-Bessel SDEs, we obtain closed-form expressions for the values of bonds, assets, and options on the total asset value. Typical model parameters are estimated by fitting bond price data, and we use these parameters to price the assets and options numerically. Implications for the total asset price itself as a diffusion are discussed. We also estimate implied volatility surfaces for options and bond yields.     

Effectiveness and Effects of China’s Capital Controls

I. IntroductionNations at every stage of development and in every region of the world are more closelylinked through trade in goods and services, through flows of funds and investments ineach others’ economies than ever before. But in sharp contrast to more and more nationsloosening restrictions on international trade, controls over capital flows are still substantialnearly everywhere except in the most developed economies. This is certainly the case inChina, where restrictions on movements …     

论国企留住人才的有效措施

未来经济的竞争主要是科学技术与人才的竞争,而归根结底是人才的竞争。人才是当今以及未来时代竞争的焦点,如何吸引人才而避免人才的流失成为企业,尤其是国有企业所面临的最严峻的课题。根据国企人才流失的最主要原因和人才最看重的是个人发展空间和机会,从而为国企如何为人才提供个人发展空间和机会提出了一些对策和建议。     

从敦煌本《百行章》看唐初的法制思想

唐代的法制思想，主要有两大特征，即仁刑恤典和厉行法制。对此，学者们多从正史的角度加以探讨和分析。而从敦煌所出唐代蒙书《百行章》所述内容同样清楚地显示了唐初的法制思想的以上特点。这一研究可以起到补充正史的作用。     

Estimation of Agricultural Production Functfons on a World-Wide Basis

Agricultural production is becoming increasingly capital and research intensive. Hayami and Ruttan, along with others, have developed and applied the metaproduction functional approach to the examination of this phenomenon on a worldwide basis. Limitations to the approach derive from a restrictive functional form chosen for estimation, and from a restrictive specification of agricultural capital and land. This study addresses those difficulties by use of the flexible translog functional form for estimation and by specifying an overall agricultural capital index and a land measure incorporating differences in the quality of land (agricultural natural resource) endowments. Estimation results indicate that agricultural comparative advantage in production is likely shifting to developed countries relative to LDC's due to capital constraints in the latter. Also agricultural potential (i.e., land endowments) do not serve to differentiate nations on the basis of agricultural production. Investment in agriculture, including land improvement, is key to the determination of comparative advantage. La production agricole fait appelle de plus en plus a beaucoup de re-cherches et de capitaux. Hayami et Ruttan, avec d'autres, ont developpe et appliqué l'approche fonctionnelle métaproduction pour examiner ce phénomena à l‘échelle du monde. Les limitations de cette approache provienneent de la forme fonctionnelle restrictive choisie pour l'estimation, et de la spécification restrictive de capitaux et terres agricoles. Cette étude traite ces difficultés en utilisant la formule “translog’ fonctionnelle adaptable pour l'estimation et en spécificant un indice du capital agricole global et une mesure de terre qui incorpore les différences du qualité des terres agricoles (ressources agricoles naturelles). Tous les résultats estimatifs indiquent que l'avantage comparatif agricole de production s'incline vers les pays développés parraport aux PMD dû aux constraintes de capitaux dans ces derniers. Aussi la capacité agricole (c'est à dire la richesse des sols) ne sert pas à différencier les nations sur le plan de production agricole. L'investissement dans l'agriculte, notamment l'amélioration de terre, est la cief pour déterminer l'avantage comparatif.